Deficit.

Deficit. If under subparagraph (4)(i) of this paragraph one of the spouses has a deficit in his separately maintained excess deductions account as of the close of the last taxable year for which a joint return was filed, then as of the beginning of the first taxable year for which they cease filing a joint return:
(a) The spouse who had such deficit shall have an excess deductions account of zero, and
(b) The other spouse shall have an excess deductions account equal to the amount prescribed in subdivision (i) of this subparagraph minus the amount of such deficit.
(6) Examples. The provisions of this paragraph may be illustrated by the following examples:
(a) The spouse who had such deficit shall have an excess deductions account of zero, and
(b) The other spouse shall have an excess deductions account equal to the amount prescribed in subdivision (i) of this subparagraph minus the amount of such deficit.
(6) Examples. The provisions of this paragraph may be illustrated by the following examples:

Source

26 CFR § 1.1251-2


Scoping language

None
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